C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $751,000 Position in Biogen Inc. (NASDAQ:BIIB)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,913 shares of the biotechnology company’s stock, valued at approximately $751,000.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the period. Van ECK Associates Corp lifted its stake in shares of Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after buying an additional 967,523 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after buying an additional 357,181 shares during the period. Mizuho Securities USA LLC grew its stake in Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after buying an additional 304,778 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Biogen during the 3rd quarter valued at $55,826,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BIIB shares. Mizuho reduced their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and decreased their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. The Goldman Sachs Group cut their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Citigroup cut their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $211.85.

Biogen Trading Down 0.0 %

Shares of BIIB stock opened at $136.54 on Thursday. The business has a 50-day moving average of $146.13 and a 200 day moving average of $171.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The stock has a market capitalization of $19.99 billion, a PE ratio of 12.20, a P/E/G ratio of 1.47 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.89 earnings per share for the current year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.